Allen Bromberger

Partner

Practice

Allen Bromberger is nationally recognized for his groundbreaking work on the development of nonprofit and for-profit legal structures which support the simultaneous pursuit of financial and social goals. With thirty-five years of legal practice, and as an author of The Art of Social Enterprise and a sought-after speaker on the intersection of business and philanthropy, Allen is at the forefront of the fourth sector and social enterprise movements that have risen to prominence in recent years.

In providing legal counsel in the sphere of socially responsible businesses and impact investments, Allen’s practice includes

Serving as outside general counsel and advisor on a wide variety of issues, including corporate ownership, governance, finance, transparency, accountability, intellectual property, and branding

Setting up benefit corporations, social enterprises, nonprofits, micro-franchises, and their respective operating agreements, filings, and registrations

Representative Work

Development of a for-profit socially responsible business

The business partners with federal programs to hire up to 50% of its workforce from a population of former substance abusers and formerly incarcerated persons giving a “second chance” to people who are otherwise largely unemployable. The enterprise has flourished and is now in its third round of financing.

Structuring the successful spin-off of a for-profit enterprise by a nonprofit

The parent nonprofit developed medical equipment for use in rural clinics of developing countries. The organization began by selling equipment to foundations that placed the equipment in clinics they were supporting outside of the U.S. When other markets and customers came forward, the company needed the freedom to grow independently. After separation from the parent nonprofit, the business has grown successfully, and the profits have been used to support the parent nonprofit’s mission.

Structuring a PRI for a private foundation, including term-sheet negotiation

Negotiated term sheet, performed due diligence, drafted deal documents, and oversaw all aspects of the transaction through closing. The investment was successfully completed, and the company is expanding impact and is financially successful.

Background

Before joining Perlman & Perlman, Allen served as President of Power of Attorney, a private operating foundation in New York City, and as the Executive Director of Lawyers Alliance for New York, a public interest law firm. From foundations and family offices to funds and entrepreneurs, Allen offers counsel and serves as a trusted advisor and connector for his clients. Allen’s ambition is to build legal support for social benefit that will thrive for years to come.